Audit News

ICAI seeks waiver of penalty for filing of tax audit till 31st March 2022

10 January 2022 at 10:19

Keeping the interest of Professionals and Tax payers ICAI has seeked a waiver of penalty to file various reports under the Income Tax Act, 1961 upto 31st March,2022.

Posted in Audit | 9192 Views

NFRA extends the last date for submission of comments on its Consultation Paper on Statutory Audit

10 November 2021 at 08:38

Consultation Paper on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs) – extension of last date for submission of comments to 30th November 2021.

Posted in Audit | 1 comments | 2316 Views

Government contemplate ban on Non audit services to audit clients

08 November 2021 at 11:25

MCA may take serious steps to safeguard the interests of the Statutory auditors. Firms auditing the accounts of public interest entities such as listed or large unlisted companies could be debarred from providing non audit services to them.

Posted in Audit | 9354 Views

MCA extends the last date for filing of Cost Audit Report to 30th November 2021

30 October 2021 at 08:47

The Ministry of Corporate Affairs has extended the last date for filing of the Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014 to 30th November 2021.

Posted in Audit | 2082 Views

RBI Governor states the Role of Audit in the Modern Financial System

26 October 2021 at 08:37

Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - October 25, 2021 - at the National Academy of Audit and Accounts (NAAA), Shimla).

Posted in Audit | 2472 Views

Extension of last date of filing Cost Audit Report

28 September 2021 at 15:18

The cost auditor can submit the CAR for the F.Y. 2020-21 to the Board of Directors of the companies by 31st October 2021 and it shall not be considered as a violation of rule 6(5).

Posted in Audit | 3810 Views

ICAI Aligns the Time Limit of Generating UDIN from 15 days to 60 days

18 September 2021 at 07:16

The Council of ICAI in its 405th meeting held on 17th September 2021 has decided that the time limit of generating UDIN would be 60 days from the date of the signing of certificates/reports/document instead of 15 days henceforth.

Posted in Audit | 6885 Views

Explanatory Memorandum on Applicability of Audit Quality Maturity Model

26 May 2021 at 20:18

This AQMM v1.0 is being shared with various stakeholders as an Exposure Draft and will be available for public comments for a period of 15 days, until 1st July 2021.

Posted in Audit | 2817 Views

ICAI constitutes Online Panel of Experts for Addressing Bank Branch Audit Related Queries for FY 2020-21

01 April 2021 at 05:41

ICAI, with a view to support their members for fast resolution of their queries, has decided to offer online support to the members from April 1st, 2021 till April 15th, 2021 for the bank branch audits for the year ended 31st March 2021.

Posted in Audit | 1956 Views

Companies (Audit and Auditors) Amendment Rules, 2021

25 March 2021 at 05:32

The Ministry of Corporate Affairs has released the Companies (Audit and Auditors) Amendment Rules, 2021 to further amend the Companies (Audit and Auditors) Rules, 2014.

Posted in Audit | 6039 Views